Real Goods Solar and Green Lantern Capital Partner to Develop 4.5 MW of Solar
Projects in Vermont
Solar Projects to Offset More Than 204 Million Pounds of CO2 Emissions Over
Next 25 Years
LOUISVILLE, Colo., Dec. 30, 2013 (GLOBE NEWSWIRE) -- RGS Energy, the
commercial and utility division of Real Goods Solar, Inc. (Nasdaq:RSOL), has
joined forces with Green Lantern Capital to co-develop seven solar projects
totaling 4.5 megawatts (MW) in Vermont.
RGS Energy will design, install, monitor and maintain the solar power systems.
The company expects to begin construction in summer of 2014 and complete it by
November.
On an annual basis, the solar power systems will be designed to generate more
than 5.3 million kilowatt hours of electricity. Over the next 25 years, the
solar energy produced would offset more than 204 million pounds of carbon
dioxide emissions, the equivalent to taking over 19,000 cars off the road or
planting over 2.3 million trees (estimated per EPA-based data). The new solar
projects will also help Vermont reach its goal of 20% renewable energy by
2017.
"Through these projects, we will be enabling municipalities, schools and
businesses to reduce their energy costs while at the same time promoting solar
energy," said Luke Shullenberger, Green Lantern Capital's founder and managing
partner. "We partnered with RGS Energy, a pioneering solar company in the
country, because of the best practices they have developed around quality and
safety through their extensive experience building similar projects in Vermont
and elsewhere."
Tim Seamans, RGS Energy's general manager, commented: "We have very deep solar
roots in the Northeast, especially in Vermont where we have successfully
installed more than 10 megawatts of solar, more than any other company. In
collaboration with Green Lantern Capital, we are expanding in this important
market segment. We are proud that the design, management and construction of
these projects will help bring new jobs to Vermont, while supporting the
state's renewable energy goals."
About Green Lantern Capital
Green Lantern of Waterbury Vermont is a development consulting and project
financing company with a focus on distributed energy, clean-tech and real
estate. The firm leverages relationships with institutional investors, family
offices and lenders, and provides comprehensive, structured financing and
asset management solutions for commercial-scale projects. From concept through
to final commissioning, Green Lantern brings a focused, professional approach
to its engagements, and makes projects happen. For more information, visit
www.greenlanterncapital.com.
About Real Goods Solar, Inc.
Real Goods Solar, Inc. (Nasdaq:RSOL) is one of the nation's pioneering solar
energy companies serving commercial, residential, and utility customers.
Beginning with one of the very first photovoltaic panels sold to the public in
the U.S. in 1978, the company has installed more than 16,000 solar power
systems representing well over 120 megawatts of 100% clean renewable energy.
Real Goods Solar makes it very convenient for customers to save on their
energy bill by providing a comprehensive solar solution, from design,
financing, permitting and installation to ongoing monitoring, maintenance and
support. As one of the nation's largest and most experienced solar power
players, the company has 17 offices across the West and the Northeast. It
services the commercial and utility markets through its RGS Energy division.
For more information, visit RealGoodsSolar.com or RGSEnergy.com, on Facebook
at www.facebook.com/realgoodssolar and on Twitter at
www.twitter.com/realgoodssolar.
Cautionary Statement Regarding Forward-Looking Statements
This communication includes forward-looking statements relating to matters
that are not historical facts. Forward-looking statements may be identified by
the use of words such as "expect," "intend," "believe," "will," "should" or
comparable terminology or by discussions of strategy. While Real Goods Solar
believes its assumptions and expectations underlying forward-looking
statements are reasonable, there can be no assurance that actual results will
not be materially different. Risks and uncertainties that could cause
materially different results include, among others, failure to complete the
solar projects described above in a timely manner or at all, receiving
shareholder approval for the proposed merger with Mercury Energy, Inc.
("Mercury"), successfully closing the Mercury merger, realizing synergies and
other benefits from the Mercury merger, introduction of new products and
services, completion and integration of acquisitions, possibility of negative
economic conditions and other risks and uncertainties included in Real Goods
Solar's filings with the Securities and Exchange Commission. Real Goods Solar
assumes no duty to update any forward-looking statements.
CONTACT: Media and Investor Relations Contact
Ron Both
Liolios Group, Inc.
Tel 1-949-574-3860
RSOL@liolios.com
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